Colorado No. 2 for foreclosure filings
Published June 5, 2008 by CSBJ Staff
In its May foreclosure overview released this week by RealtyTrac, Nevada seized the No.1 spot “at an unbelievably high percentage of foreclosure filings: One filing for every 166 households.”
Second place went to Colorado with one filing for every 290 households. Third and fourth places fell to California and Florida, who led the nation in the actual volume of foreclosure filings – California had 39,659 and Florida had 21,704.
Total foreclosure U. S. filings were up 90 percent in May from a year earlier.
“There were 176,137 notices of default, scheduled auctions and bank repossessions last month, led by California, Florida and Ohio,” RealtyTrac said in its report.
The median price for a U.S. home was off 1.8 percent during the first three months of 2008, while the National Association of Realtors said foreclosure filings rose 19 percent in May from a month earlier.
RealtyTrac officials viewed the April-to-May increase as a sign falling home values have not yet hit bottom. Chief Executive Officer James Saccacio said the period from April through June as the year’s typically strongest selling season when more than half of all sales occur – but not this year.
Filed under CSBJ Daily, Foreclosures, State